Broyhill Asset Management LLC Makes New Investment in Valaris Limited $VAL

Key Points

• Broyhill Asset Management LLC acquired 18,495 shares of Valaris Limited, valued at approximately $726,000, marking its new stake in the company.
• Valaris recently reported $1.61 earnings per share, surpassing analysts' expectations, with revenue of $615.20 million for the quarter.
• Analysts' ratings for Valaris vary, with one "Buy," six "Hold," and one "Sell" rating, while the consensus target price sits at $46.20.

Broyhill Asset Management LLC acquired a new stake in Valaris Limited (NYSE:VAL - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,495 shares of the company's stock, valued at approximately $726,000.

A number of other large investors have also recently added to or reduced their stakes in VAL. Envestnet Asset Management Inc. grew its stake in Valaris by 63.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 18,573 shares of the company's stock valued at $822,000 after acquiring an additional 7,234 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Valaris in the 4th quarter valued at about $875,000. Tower Research Capital LLC TRC grew its stake in Valaris by 91.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,111 shares of the company's stock valued at $447,000 after acquiring an additional 4,832 shares during the last quarter. Stifel Financial Corp acquired a new position in Valaris in the 4th quarter valued at about $2,399,000. Finally, Hsbc Holdings PLC acquired a new position in Valaris in the 4th quarter valued at about $991,000. 96.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on VAL. Susquehanna boosted their target price on shares of Valaris from $46.00 to $52.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. BTIG Research reissued a "buy" rating on shares of Valaris in a research note on Monday, July 14th. Wall Street Zen raised shares of Valaris from a "sell" rating to a "hold" rating in a research note on Saturday. Citigroup reissued a "neutral" rating and issued a $50.00 target price (up previously from $47.00) on shares of Valaris in a research note on Thursday, July 10th. Finally, Fearnley Fonds lowered Valaris from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $46.20.

Valaris Trading Up 1.2%

Shares of NYSE VAL traded up $0.60 during midday trading on Monday, hitting $49.72. The stock had a trading volume of 724,718 shares, compared to its average volume of 1,165,869. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of 12.95 and a beta of 1.17. Valaris Limited has a 1-year low of $27.15 and a 1-year high of $61.60. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.46. The company has a fifty day moving average price of $47.01 and a 200 day moving average price of $40.93.

Valaris (NYSE:VAL - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.45. The business had revenue of $615.20 million for the quarter, compared to analyst estimates of $582.70 million. Valaris had a return on equity of 12.36% and a net margin of 11.18%.The company's revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.03 EPS. On average, analysts predict that Valaris Limited will post 3.96 earnings per share for the current year.

About Valaris

Valaris Limited, together with its subsidiaries, provides offshore contract drilling services Gulf of Mexico, South America, North Sea, the Middle East, Africa, and the Asia Pacific. The company operates through four segments: Floaters, Jackups, ARO, and Other. It owns an offshore drilling rig fleet, which include drillships, dynamically positioned semisubmersible rigs, moored semisubmersible rig, and jackup rigs.